Portfolio Performance : +28.86%

Actions : Did some intra-day trading on the EUR/USD pair, which helped the performance of the portfolio

US Dollar Barometer stands at -3

Headline News

1. Energy pits filled with rumors that Irving Oil has been buying as much as 1 million barrels of gasoline on the open market over the past two days, leading to speculation that there is a problem at Canada's largest oil refinery
2. Electricity-starved Nigeria signed a preliminary agreement on Tuesday with Germany to help boost power supply in Africa's top oil producer in the next 11 years
3. US ABC Consumer Comfort index -49 versus last week of -50
4. Japan June all-industries index lower by 0.9% from May
5. Australia's index of skilled job vacancies fell 4.3% seasonally adjusted in August from the previous month and was 14.4% lower from a year ago
6. India allows the export of rice, corn seeds
7. Vietnam central bank has raised its overnight loan rate to 15%
8. China July wholesale price higher by 9.4% year on year vs 9.5% year on year in June, according to the central bank
9. Taiwan Balance of Payment surplus 4.59 billion USD versus 1.89 billion deficit
10. British manufacturers expect to cut output at the fastest rate in nearly seven years, according to a survey published on Wednesday by the Confederation of British Industry
11. India's ministry of commerce and industry said that foreign investors must cut their stake in Indian commodities exchanges to 5% by June 30, 2009
12. The PWC quarterly measure of optimism said only 24% of CEOs in the US have a positive outlook for the economy in Q2 08, a new record low. 26% were positive in Q1 08

Bottomline : The US dollar is starting to lose its strength against the pairs, I suspect that we might continue to see a dislocation between the US dollar and commodities moving forward. The equity market might see some trouble ahead while commodities might bounce back